Answer:
a. $ 2.41 $ 2.00
Explanation:
Earning per share is the ratio of net Income of the business per outstanding share of the business after deducting the preferred dividend from net earning. It shows how much each stockholder earn against their each share in a specific period.
Earning Per share = Net Income / Outstanding numbers of shares
2017
EPS = $8,000,000/(2,000,000 x 2) = $2.00
As new stock is issued and stock split is declared so, outstanding numbers of shares are changed.
2018
EPS = $10,000,000 / [ ( 2,000,000 x 2 ) + ( 100,000 x 9 / 12 x 2 ) ] = $2.41
LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.
<h3>What is LIFO?</h3>
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).
To learn more about LIFO, please check: brainly.com/question/13779572
Answer:
Dr Service cost 245,000
Cr Interest 166,400
Cr Cash 411,400
Dr Plan assets - pension 411,400
Cr Service cost 245,000
Cr Interest 166,400
Explanation:
Preparation of the journal entries to record annual pension expense for the enterprise fund of Amherst City
Since we are Assuming that the plan investments was $184,300 while the service cost component is the sum of $245,000, and interest on the pension liability is the sum of $166,400 for the year this means the Journal entries to record annual pension expense for the enterprise fund of Amherst City will be:
Dr Service cost 245,000
Cr Interest 166,400
Cr Cash 411,400
(245,000+166,400)
Dr Plan assets - pension 411,400
(245,000+166,400)
Cr Service cost 245,000
Cr Interest 166,400
